Global Economy News
LAST UPDATE: July 18, 2025
Trump’s tariffs cloud G20 finance chiefs’ meeting in South Africa
At the G20 finance meeting in Durban on July 17–18, 2025, Trump’s aggressive tariff policies overshadowed discussions. South Africa urged global leadership, while absence of US Treasury Secretary marked a gesture of unease .
Insight
The gathering highlights growing fragmentation in global economic governance. U.S. unilateral trade policy undercuts cooperative G20 objectives, undermining trust and complicating joint action on climate and development finance.
G‑20 nearing communique deal, South Africa finance chief says
South African Finance Minister Enoch Godongwana expressed optimism on July 17, 2025, that G20 finance chiefs will finalize a joint communique by meeting’s end, signaling openness to coordinated action despite tensions .
Insight
Reaching a communique would be significant amid trade frictions. It suggests G20’s resilience, but substance may be limited—possibly focusing on infrastructure financing and climate rather than confronting tariffs directly.
Economic uncertainty cannot be new norm, says Canada at G20
Canada’s Finance Minister Champagne warned at the July 17–18 G20 meeting near Durban that “uncertainty cannot become the new certainty.” He advocated for infrastructure investment and African development to stabilize global confidence .
Insight
Canada is calling for long-term stimulus and global south support to counteract the disruptive effects of protectionism. Emphasizing African growth signals a broader, inclusive G20 agenda.
Central banks face dilemma over rise of dollar-backed stablecoins
Central banks are concerned as USD-backed stablecoins surge toward a projected $3.7 trillion by 2030, raising issues around monetary sovereignty, stability, illicit finance, and competition with CBDCs. The US supports regulated stablecoins, while some countries fast-track digital currencies like the digital euro.
Insight
The rapid expansion of stablecoins forces central banks to choose between embracing regulated private tokens or accelerating CBDCs to retain monetary control—already reshaping global finance.
